Abu Dhabi oil giant ADNOC, Austrian OMV create $60B chemicals giant
The two companies are merging some petrochemicals and plastics units to form Borouge Group, which will also acquire Canada's Nova Chemicals.
ADNOC and OMV to merge petrochemical firms to create $60 billion giant
By Gursimran Mehar, Yousef Saba, Federico Maccioni and Abinaya V (Reuters) -Abu Dhabi National Oil Company and Austria's OMV will merge their polyolefin businesses to create a chemicals powerhouse with a $60 billion enterprise value,
UAE’s ADNOC, Austria’s OMV merge businesses to create $60B plastics firm
Following the acquisition, the new firm, called Borouge Group International (BGI), will be the world’s fourth-largest polyofin company, said ADNOC and OMV.
Adnoc, OMV to Combine Borouge, Borealis to Form Petrochemicals Giant
Adnoc and OMV will create Borouge Group International through an all-share combination of Borouge and Borealis, the companies said Tuesday. OMV will inject 1.6 billion euros ($1.68 billion) in cash into the business to put its shareholding on par with Adnoc, they said.
ADNOC, OMV agree on shareholding combination in Borouge and Borealis
BAKU, Azerbaijan, March 5. Abu Dhabi National Oil Company (ADNOC) and OMV Aktiengesellschaft (OMV) have formalized terms for the combination of their shareholdings in Borouge plc and Borealis AG, Trend reports.
Adnoc, OMV Reach Deal to Form $60 Billion Petrochemical Giant
Abu Dhabi’s Adnoc and Austria’s OMV reached an agreement to combine their petrochemical businesses and subsequently acquire Canada’s Nova Chemicals to form a giant with a combined value of about $60 billion.
UAE’s Adnoc Targets More Chemicals Growth After Mega OMV Deal
The $60 billion company formed by the merger of Adnoc and OMV AG’s chemical units is targeting a more than 50% boost in profits, and remains open for further deals or building new plants.
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OMV, Adnoc to merge Borealis and Borouge, buy Nova Chemicals
Nova is one of North America’s largest polyethylene (PE) resin makers, and is wholly owned by Mubadala Investment Co., a ...
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Adnoc and OMV forge $60bn powerhouse with merger of chemicals businesses and takeover of Canadian producer
Ship chartering giants Abu Dhabi National Oil Company (Adnoc) and Austria's OMV are merging their polyolefin operations as ...
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Nova Chemicals to be purchased as part of international corporate merger
The new entity will buy Nova Chemicals, a leading North American polyethylene producer with four production sites in the Sarnia area, from Mubadala Investment Co., owned by the government of Abu Dhabi ...
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Nova's Indiana plant ‘a push to prove' film recycling works
Nova Chemicals has opened a major plastic film recycling plant in Indiana that will produce 150 million pounds of ...
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ADNOC to create AED220+ billion global chemicals powerhouse - Borouge Group International
ADNOC and Austria’s OMV have announced today that they will merge their shareholdings in Borouge plc and Borealis AG to create Borouge Group International.This new combined company will then acquire ...